Re: [Pen-l] U.S. Imagines the Bailout as an Investment Tool

[Jim Devine <jdevine03@xxxxxxxxx>]

Correct me if I'm wrong, but this seems marginally better than the
bail-out proposals so far. The Geithner version of Paulson's plan in
essence takes tax-payers' money to pay Pimco and others to buy the
banks' worthless paper, in hopes of reviving the banking system. What
this does is to take tax-payers' money to pay _taxpayers_ to buy the
banks' worthless paper, in hopes of reviving the banking system.

Of course, it's quite likely that the taxpayers most likely to win
from this win-win (taxpayer lose) deal are the very rich.

Marginally better, but not sufficiently better.

On Wed, Apr 8, 2009 at 7:05 PM, Jayson Funke <jfunke@xxxxxxxxxx> wrote:
>
> April 9, 2009
> U.S. Imagines the Bailout as an Investment Tool
> By GRAHAM BOWLEY and MICHAEL J. de la MERCED
> http://www.nytimes.com/2009/04/09/business/09fund.html?_r=1&hp
>
> During World War I, Americans were exhorted to buy Liberty Bonds to help
> their soldiers on the front.
>
> Now, it seems, they will be asked to come to the aid of their banks ‹ with
> the added inducement of possibly making some money for themselves.
>



-- 
Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own
way and let people talk.) -- Karl, paraphrasing Dante.
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